Discover Sallie Mae Bank’s online Certificate of Deposit (CD) accounts, offering some of the best rates on the market with terms from 6 to 60 months and no monthly fees. Start with a minimum deposit of $2,500.
Sallie Mae Bank has established itself as a competitive player in the savings market, particularly with its Certificate of Deposit (CD) accounts. Known for providing one of the best rates nationwide, Sallie Mae’s CD accounts are an excellent choice for savers looking to lock in higher returns on their investments. Whether you’re saving for a short-term goal or planning for the future, Sallie Mae offers a range of CD term lengths and market-leading rates to fit your needs.
Recent Updates
- Update 3/29/2024: Rates have decreased across the board. See new rates below.
- Update 2/28/2024: Rates have remained the same since January 19.
- Update 1/19/2024: Rates have changed slightly. See new rates below. Compare them with these CDs from Barclays.
- Update 12/19/23: Rates have recently increased across several term lengths.
- Update 11/3/23: A couple of rate increases.
- Update 10/4/23: Rates decreased across several term lengths. High rate now only 5.15% APY.
- Update 8/24/23: Highest rate now 5.55% APY for the 18 Month CD.
- Update 7/27/23: 9 to 18 month terms get rate increases.
- Update 7/3/23: Rates now up to 5.00% APY.
- Update 4/24/23: Their rates for several term lengths changed. See new rates below.
- Update 4/10/23: Their rate for the 24 month CD decreased from 4.95% to 4.85%
- Update 3/29/23: They increased their CD rates for several term lengths.
- Update 3/14/2023: Their 12-month CD increased from 4.50% to 4.60%.
- Update 2/27/2023: Their 12-month and 24-month CD rates increased from 4.35% and 4.50% to 4.50% and 4.60%, respectively.
- Update 1/30/2023: Their 12-month and 24-month CD rates increased from 4.25% and 4.40% to 4.35% and 4.50%, respectively.
- Update 12/27/2022: Their 36-month and 60-month CD rates decreased from 4.50% and 4.55% to 4.40% and 4.25%, respectively.
Quick Facts:
- Sallie Mae offers market-leading rates nationwide for its Money Market and Certificate of Deposit (CDs) accounts.
- CDs are available in term lengths ranging from 6 to 60 months.
- CDs require a minimum deposit of $2,500.
- Sallie Mae does not charge monthly fees for their CD accounts.
See the Posts History below for all Sallie Mae Bank offers.
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Sallie Mae Bank Online CD Account Details
Sallie Mae Bank online CD accounts are available with terms ranging from 6 to 60 months.
Here is a table with the current rates for the most popular CD terms offered by Sallie Mae Bank:
Term | APY |
---|---|
6 Month CD | 4.80% |
9 Month CD | 4.85% |
12 Month CD | 4.95% |
13 Month CD | 4.90% |
18 Month CD | 4.75% |
24 Month CD | 4.50% |
- Available nationwide
- Minimum for APY: $2,500
- Maximum for APY:
Key Features of Sallie Mae CD Accounts:
- Competitive Interest Rates: Sallie Mae’s CD accounts offer some of the most attractive interest rates in the banking sector, making them a lucrative option for savers seeking to grow their funds.
- Variety of Term Lengths: With terms available from 6 to 60 months, you can select the duration that best aligns with your savings goals and financial planning.
- Minimum Deposit Requirement: To open a CD account with Sallie Mae, a minimum deposit of $2,500 is required. This initial deposit threshold ensures that your savings start earning competitive interest rates right away.
- No Monthly Fees: Sallie Mae stands out by not charging any monthly maintenance fees for its CD accounts, ensuring that your savings grow unimpeded by additional costs.
READ MORE: COMPARE WITH THE NATION’S BEST CD RATES
Why Choose a Sallie Mae CD?
Certificates of Deposit are a staple in the arsenal of savvy savers, offering a secure and predictable way to earn interest on your savings. By locking in a fixed interest rate for a specified term, CDs provide a guaranteed return, insulated from the fluctuations of the market. Sallie Mae’s commitment to competitive rates and customer-friendly account features, such as no monthly fees and a reasonable minimum deposit requirement, makes its CD accounts an appealing choice for individuals looking to optimize their savings strategy.
Getting Started with a Sallie Mae CD
Opening a CD account with Sallie Mae is a straightforward process, designed with convenience in mind. Interested savers can easily apply online, selecting their preferred term length and making the initial deposit to start earning interest. With Sallie Mae’s online banking platform, managing your CD account is simple, providing you with the tools to track your savings progress and plan for your financial future.
Final Thoughts
Sallie Mae Bank’s Certificate of Deposit accounts offer a compelling option for savers at all stages of their financial journey. With competitive rates, a variety of term lengths, and customer-centric account features, Sallie Mae CDs stand out as a smart choice for anyone looking to secure and grow their savings. Whether you’re new to saving or an experienced investor, a Sallie Mae CD can be a valuable component of your overall savings strategy, providing security, predictability, and attractive returns on your investment.
Posts History for Sallie Mae Bank:
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